₦airaland Forum

Hello People. What do you think are the reasons for the incessant fail and fall of crowdfunding Projects in Nigeria? Either they don't pay investors or they go incommunicado. .... And what do you think are the solutions to these problems.
The funding options for startups and businesses in Nigeria are very few( traditional bank loans with exorbitant interest rate and government fundings are not reliable.) So crowdfunding remains a very viable option/vehicle for raising money for entrepreneurs in this part of the world. Let's learn from the failures of others and be better for it.... Let's interact and be better for it.


What is crowdfunding??

Crowdfunding is the practice of funding a project or venture by raising small amounts of money from a large number of people, typically via the Internet.

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1Mozinga:
Hello People. What do you think are the reasons for the incessant fail and fall of crowdfunding Projects in Nigeria? Either they don't pay investors or they go incommunicado. .... And what do you think are the solutions to these problems.
The funding options for startups and businesses in Nigeria are very few( traditional bank loans with exorbitant interest rate and government fundings are not reliable.) So crowdfunding remains a very viable option/vehicle for raising money for entrepreneurs in this part of the world. Let's learn from the failures of others and be better for it.... Let's interact and be better for it.


What is crowdfunding??

Crowdfunding is the practice of funding a project or venture by raising small amounts of money from a large number of people, typically via the Internet.

Most of them fail because they refuse to place a cap on the limits of funds to be received from investors. This leads to having an excess of idle funds on which returns are to be paid to the investors.

dawnomike:
Most of them fail because they refuse to place a cap on the limits of funds to be received from investors. This leads to having an excess of idle funds on which returns are to be paid to the investors.

Waw! Wonderful Point, sir. Thanks.